If the velocity of money (V) and real output (Q) were increasing at approximately the same rate, then:
a. it would be impossible for monetary authorities to control inflation
b. monetary acceleration would not lead to inflation.
c. inflation would be closely related to the long-run rate of monetary expansion.
d. none of the above
c
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Which of the following is TRUE regarding the quantity theory of money?
I. The theory predicts that in the long run the inflation rate equals the money growth rate minus the growth rate of real GDP. II. The theory predicts that countries with high growth rates of money will have high inflation rates. III. The theory predicts that increases in the growth rate of velocity lowers the inflation rate. A) I and II B) II and III C) I and III D) I, II and III
Which of the following best reflects the ability-to-pay philosophy of taxation?
a. an excise tax on coffee b. an excise tax on gasoline c. a progressive income tax d. a tax on residential property
Tuition is the single-largest cost of attending college for most students
a. True b. False Indicate whether the statement is true or false
The tax multiplier is a negative multiplier.
Answer the following statement true (T) or false (F)